Review: Simplicity is Bitcoin Investment App Lawnmower’s Strength and Weakness

Name of product: Lawnmower

What it is: Bitcoin’s take on the popular investment app Acorns, Lawnmower rounds traditional bank card purchases up to the nearest dollar and invests the change in bitcoin.

Made by:

Who’s behind it: Three University of Florida classmates Pieter Gorsira, Patrick Archambeau and Alex Sunnarborg and strategic backers Boost VC.

Cost: Free

Date launched: 9th April


Basic summary: Lawnmower provides a painless way for users to start saving bitcoin in incremental amounts.

CoinDesk rating: 3.5/5

The basics: Available as an iOS app and currently in Android beta, Lawnmower creates a Coinbase wallet for users, connecting the address to a bank account or credit card. Lawnmower monitors the user’s traditional purchases, rounding transactions to the nearest dollar, or in the case of a $3.00 transaction, the next dollar, converting this “change” to bitcoin.

Using the service

To install the service, iOS users download the app to their preferred device. From there, sign-up is broken down into a three-step process.

The app is currently limited to users of one of five traditional banking partners, all of whose services can be accessed via financial API platform Plaid. Available banks currently include Bank of America, Chase, Citibank, Wells

Read more ... source: CoinDesk